CBPE, the private equity business of Close Brothers Group, has backed the buy out of two Channel Islands aviation businesses, namely Aurigny Air Services and Anglo Normandy Aero Engineering from Exxtor group. Based in Guernsey, Aurigny operates an inter-island air transport service in the Channel Islands. It has a fleet of eight Trislander aircraft and one Shorts 360, and is also expanding its fleet of Saab 340s.

Anglo operates from hangars totalling 30,000 square feet, and services a range of aircraft including private and corporate turboprops and commercial passenger aircraft such as Trislanders, Shorts 360, ATR 42 and Dash 7. CBPE's Richard Lott said: "We are delighted to have completed our first deal in the Channel Islands which we see as a location which provides exciting investment opportunities."